See iKey for X-Keys at Siggraph.
Use iKey to tell your computer to launch, switch, show, quit and relaunch software applications, or to open specific documents even in other applications than their creator application. Includes access to recent applications and the currently running applications. iKey is even able to control the actual windows & menus of running applications.
'Option' + 'g' takes me to Google in a new window. 'Option' + 's' loads Safari or brings the most recent window to the front. 'Option' + 'i' loads imageReady and opens a new document. Switching between applications has never been so easy and fast.
My task list is never ending. At the beginning of the day it loads as part of a sequence, along with my email, cnn.com, and the ebay items that I have been tracking. To check my list during the day, I just press 'option' + 'shift' + 't' and it comes to the front of my desktop.
Formatting documents can be tedious. You can have several fonts, sizes, colors, and alignment configurations. I have used iKey to set hotkeys, which only work within MS Word, that streamline my formatting.